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$885,000

For Sale - Active
223 W Goosenest Dr, Elk Ridge, UT 84651
7 Beds
4 Baths
4,148 Square Feet
0.43 Acres Lot
Built in 2022
For Sale - Active
1 Units
Checked: 17 hours ago
Updated: Sep 10, 2025 at 10:21AM

Investment Summary


Monthly Cash Flow
-$1,453
Cap Rate
3.7%
Cash-on-Cash Return
-8.6%
Debt Coverage Ratio
0.65
Internal Rate of Return (5 years)
-4.3%

Property Description


0.43 Acres Lot
Built in 2022
For Sale - Active
1 Units

Absolutely striking 2022 custom-designed home in the serene community of Elk Ridge! This fully finished, 7-bedroom, 4-bath home offers custom finishes throughout with an ideal open floor plan designed for comfort and entertaining. You'll love the gourmet kitchen featuring quartz countertops, modern cabinetry, double ovens and a large custom island plus a deluxe walk-in pantry. The primary suite includes an oversized walk-in closet and a spa-inspired bathroom featuring a double vanity, glass encased tiled shower and separate soaking tub. And to provide additional comfort and organization, one of the bedrooms has been transformed to a functional and stunning walk-in closet with custom built-ins. Step outside to the fully landscaped, fenced yard and expansive hand-laid paver patio with gas fire pit, which showcases Dixon Peak. The massive 3-car garage is fully finished with extra tall doors, epoxy flooring and a 220-volt outlet for your EV. The side drive is perfect for storing all of your recreational toys. Additional features include extra tall ceilings (9'), two fireplaces, a sleek downstairs dry bar, in-floor HVAC ducting in the basement that allows for maximum ceiling height, customized bedroom closets and built-in cabinets and open shelving in both family rooms.

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Location


Property Details


Parking

  • Description: Parking: Uncovered, Rv Parking
  • Details: RV Access/Parking, Attached
  • Garage Spaces: 3
  • Spaces Total: 7

Bedroom Information

  • # of Bedrooms: 7

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 19
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Gable
  • Roof Material: Asphalt

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 656430002
  • Lot Size: 18730 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Rambler/Ranch
  • Year Built: 2022

Tax Information

  • Annual Tax: $4,443

Utilities

  • Heating: Fireplace Insert, Central, Natural Gas, Forced Air
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Utah

Listing Details


Listed by:
Scott Robbins
Summit Sotheby's International Realty
(801) 467-2100

Source:
UtahRealEstate (Wasatch Front)
MLS#: 2106639
UtahRealEstate (Wasatch Front)

Investment Summary


Monthly Cash Flow
-$1,453
Cap Rate
3.7%
Cash-on-Cash Return
-8.6%
Debt Coverage Ratio
0.65
Internal Rate of Return (5 years)
-4.3%

Purchase Details

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Purchase price:
$885,000
Amount financed:
-$708,000
Down payment:
$177,000
Closing costs:
$26,550
Rehab costs:
$0
Initial cash invested:
$203,550
Square feet:
4,148
Cost per square foot:
$213
Monthly rent per square foot:
$1.08

Financing Details

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Loan amount:
$708,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$4,188
Property tax:
$370
Insurance:
$315
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,873

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,500 $54,000
Vacancy loss: (6%)
6% -$270 -$3,240
Operating income:
$4,230 $50,760

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$370-$4,443
Insurance: (7%)
7%-$315-$3,780
Property management: (8%)
8%-$360-$4,320
Repairs & maintenance: (5%)
5%-$225-$2,700
Capital expenditures: (5%)
5%-$225-$2,700
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (33%)
33%-$1,495-$17,943

Cash Flow


Monthly Yearly
Net operating income:
$2,735 $32,820
Mortgage payments:
-$4,188 -$50,256
Cash flow:
-$1,453 -$17,436